WageWorks - M&A Summary, Ownership, and Business Overview

Business ServicesCompany

WageWorks M&A Summary

WageWorks has acquired 11 companies of its own. It has also divested 1 asset.

WageWorks’ largest acquisition to date was in 2014, when it acquired CONEXIS for $118M. WageWorks has acquired in 10 different US states. The Company’s most targeted sectors include business services (91%) and insurance (10%).

WageWorks Ownership

Who owns WageWorks?

WageWorks is owned by HealthEquity. It was acquired on April 30, 2019.

Was WageWorks formerly PE-backed?

Yes. WageWorks was formerly owned by 2 private investors.

WageWorks Business Overview

Where is WageWorks headquartered?

WageWorks is headquartered in San Mateo, California.

What is WageWorks’ revenue?

WageWorks disclosed revenue of 476M USD for 2017 and 365M USD for 2016.

How many employees does WageWorks have?

WageWorks has 1,921 employees.

What sector is WageWorks in?

WageWorks is a business services company.

When was WageWorks founded?

WageWorks was founded in 2000.

M&A Summary

  • M&A Total Activity12
    • M&A Buy Activity11
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5

WageWorks

WageWorks, Inc.

1100 Park Place 4th Floor,
San Mateo, California 94403
United States,
(650) 577-5200
www.wageworks.com

WageWorks is a provider of consumer-driven tax-advantaged spending accounts for health and dependent care and commuting. Products include flexible spending (FSA), health reimbursement (HRA), health savings (HSA), COBRA and commuter accounts. WageWorks, Inc. was formed in 2000 and is based in San Mateo, California.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 11 - - - - - 11
vol $118M $118M
Sell (0.0/yr) # 1 - - - - - 1
  12

Most Recent M&A

Company Date Value Type
Automatic Data Processing, Inc. - CHSA and COBRA Businesses 2016-11-01 - Divestiture
Roseland, New Jersey
CONEXIS 2014-08-01 118M USD Add-on Acquisition
Irving, Texas · www.conexis.com
Crosby Benefit Systems, Inc. 2013-05-07 - Add-on Acquisition
Newton, Massachusetts · www.crosbybenefits.com
Benefit Concepts, Inc. 2013-01-07 - Add-on Acquisition
East Providence, Rhode Island · www.benefitconcepts.com
TransitChek 2012-01-31 - Divestiture
New York, New York · www.transitchek.com
Choice Strategies 2012-01-09 - Add-on Acquisition
Waterbury Center, Vermont · www.choice-strategies.com
FBD Consulting, Inc. 2011-03-31 - Divestiture
Leawood, Kansas · www.fbdconsult.com
Planned Benefit Systems, Inc. 2010-09-01 - Add-on Acquisition
Centennial, Colorado · www.pbs.us.com
Creative Benefits, Inc. 2008-09-16 - Add-on Acquisition
Vista, California
FBD Consulting, Inc. 2005-10-11 - Divestiture
Leawood, Kansas · www.fbdconsult.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Business Services 10 (91%) 118M (100%) 1 (100%) -
Insurance 1 (9%) - - -
Total 11 $118M 1 -

By Geo

State/Country Buy Value Sell Value
United States 11 118M 1 -
  Massachusetts 2 - - -
  Kansas 1 - 1 -
  Wisconsin 1 - - -
  Vermont 1 - - -
  Texas 1 118M - -
  Rhode Island 1 - - -
  New York 1 - - -
  New Jersey 1 - - -
  Colorado 1 - - -
  California 1 - - -
Total 11 $118M 1 -

Deal Values

buy # Total
$100M to $1B 1 $118M
TOTAL $118M
Largest CONEXIS
$118M (2014-08-01)

M&A Connections

Deals
Acquired from
Strategic(s)
36%
4 (36%)
Divested to
Strategic(s)
100%
1 (100%)

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